Now is a Georgia-based fintech founded in 2010 by Stacey Abrams and Lara O’Connor Hodgson that accelerates invoice payments for small businesses. Through its NowAccount product the company pays 100% of submitted invoices immediately minus a 3% merchant fee. Now raises low-cost capital by selling bonds in the capital markets, a model its cofounder likens to American Express, and has built systems to manage the cost and risk while awaiting payment 30+ days later. To date the company has served over 1,000 small businesses and processed over $700 million in transactions. The pandemic has lengthened average invoice payment times from about 50 days to between 70–80 days, increasing demand for its offering. The $9.5M Series A led by Virgo Investment Group will be used to scale Now’s offerings and to fund marketing and advertising to expand its customer base.

Total raised

$10M

Funding rounds

1

Latest round

Series A

Latest activity

Jun 2021